1 Exercise 1-7A (Algo) Missing information and recording events LO 1-3 2 points As of December 31 Year 1. Moss Company had total cash of $157,000, notes payable of $85,700, and common stock of $52,500 During Year 2 Moss earned $37000 of cash revenue, paid $20,500 for cash expenses, and paid a $3,100 cash dividend to the stockholders 04620 Required a. Determine the amount of retained earnings as of December 31, Year 1 . Retsedag Hint b.& c. Create an accounting equation and record the beginning account balances, revenue, expense, and dividend events under the accounting equation (Enter any decreases to account balances with a minus sign) Event MOSS COMPANY Effect of Year 2 Transactions on the Accounting Equation Assets Liabilities Stockholders' Equity Cash Notes Coomon Retained Payable Stock Earnings . Beginning balance 1 Eamedreven 2 Pepee 3. Pald dividend Ending balance + +